Data di Pubblicazione:
2020
Citazione:
ESSAYS IN MACROECONOMICS / A.l. Hawitibo ; COORDINATORS: A. MISSALE, E. ROSSI ; SUPERVISOR: E. BACCHIOCCHI. Università degli Studi di Milano, 2020 Feb 25. 32. ciclo, Anno Accademico 2019. [10.13130/hawitibo-alemu-lambamo_phd2020-02-25].
Abstract:
Abstract: Chapter one
The aim of this paper is to examine the role of monetary and fiscal policies in explaining
macroeconomic fluctuations in Ethiopia using a structural VAR approach, over the period
1997/1998:1 to 2016/17:4. Its mains results can be presented as follows: first, an increase in
government spending has an expansionary effect on output, while an increase in tax revenue
has a contractionary effect, with spending multipliers larger than net tax revenue multipliers;
second, contractionary monetary policy is associated with a fall in output; third, monetary policy
contributes to very small fluctuations in output and it is one of the responsible sources of the
high and persistence inflation in the country; fourth, the contributions of fiscal policy shocks are
larger than that of monetary policy shocks in explaining movements in output, with roughly
equivalent contributions coming from shocks in fiscal policy components. Furthermore, the
effects of fiscal and monetary policy shocks on output and inflation have improved qualitatively
and quantitatively when both policy variables are jointly examined than estimating a separate
model; suggesting the role of a joint analysis of fiscal and monetary policy shocks.
Tipologia IRIS:
Tesi di dottorato
Keywords:
Fiscal Policy; Monetary Policy; Fluctuations; SVAR, Emerging Markets, SFAVAR; Country Characteristics
Elenco autori:
A.L. Hawitibo
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